Under Armour and the University of California-Berkeley announce a new 10-year agreement that will begin in July 2017.
Sources say the deal is worth $86 million and worth more than what Nike is paying the Golden Bears, as their current contract with the Swoosh will terminate next summer.
A few details of the new pact will include outfitting the school’s 34 official club sport teams in UA gear, as well as offering Cal’s faculty and students a discount on UA connected fitness bundle, HealthBox, and making Cal the home for UA’s entrepreneurial contest Future Show.
Overall, the new contract consists of a $3 million signing bonus, $3.5 million in cash per year and an average annual product allowance of $4.76 million.
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